458.Paper.Peter Qu.AUT08

458.Paper.Peter Qu.AUT08

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Unformatted text preview: 
the
hypothesis‐based
problem
solving
strategy.

From
the
guest
lecture
 this
quarter,
there
arises
a
concern
that
hypothesis‐based
approach
greatly
simplifies
 the
problem
and
may
omit
many
critical
aspect
of
the
problem
from
discussion.
Third,
 since
McKinsey
typically
do
not
offer
consulting
service
on
an
exclusive
basis,
clients
 may
be
concerned
about
possible
leaks
of
sensitive
and
confidential
information
to
its
 competitors.

Lastly,
the
company
reputation,
a
key
competitive
advantage
of
McKinsey,
 has
been
marred
in
the
past
decade.

The
role
of
McKinsey
alumni
Jefferey
Skilling
in
the
 collapse
of
Enron,
McKinsey’s
role
in
developing
controversial
insurance
policy
for
 StateFarm
and
AllState,
as
well
as
McKinsey’s
role
in
the
collapse
of
SwissAir
have
 casted
doubts
to
the
integrity
and
execution
at
McKinsey
&
Company
(McKinsey
&
 Company,
2008).
 Insider’s
View:
 From
the
latest
Vault
Guide,
the
consultants
at
McKinsey
applauded
for
the
 entrepreneurial
spirit,
brand
reorganization
and
network
opportunity
within
McKinsey
 &
Company
(Newman,
2008).
They
also
noted
the
obvious
downside
associated
with
 McKinsey,
long
work
hour
and
intensive
travel
requirement.

Some
also
points
out
 unpleasant
experience
with
senior
management
(Newman,
2008).

 Performance:
 The
table
1.
Below
summarize
the
available
information
regarding
the
performance
of
 McKinsey
&
Company.

As
of
2007,
the
revenue
per
consultant
is
$580,000.

The
starting
 salary
for
consultants
at
McKinsey
is
competitive
with
industry.

In
return
for
long
work
 hour
and
long
travel
time,
the
consultants
with
few
years
of
experiences
at
McKinsey
 are
well
compensated,
with
some
sources
cited
salary
north
of
$200,000
(Vault.com
Inc,
 2000).

The
high
turnover
rate
at
McKinsey
can
be
attributed
to
the
“up
or
out”
 expectation
at
McKinsey
&
Company
as
well
as
the
high
demand
from
outside
for
the
 talents
at
McKinsey
(Newman,
2008).
 Table
1.
Performance
Metrics
for
McKinsey
&
Company
 Revenue
per
consultant
 Time
to
partner
 Average
travel
time
 Starting
salary
 Average
bonus
 Turnover
statistics
 Approx.
$580,000.
(McKinsey
&
Company,
2008)
 N/A
 Four
days
a
week
(Newman,
2008)
 Competitive
with
industry
(Newman,
2008)
 Sign‐on
bonus,
year
end
bonus
and
embedded
bonus
 (Newman,
2008)
 High
(Vault.com
Inc,
2000)
 
 Personal
Opinion:
 McKinsey
&
Company
is
a
great
place
to
launch
a
successful
career
as
a
consultant.

The
 candidate
selection
at
McKinsey
is
highly
competitive.

Once
become
a
consultant
at
 McKinsey
&
Company,
individual
will
be
at
an
unparallel
advantage
in
term
of
brand
 recognization,
involvement
in
high
impact
projects,
extensive
learning
and
networking
 opportunity.
In
order
succeed
in
the
“up
or
not”
culture
at
McKinsey,
a
consultant
must
 be
entrepreneurial
and
willing
work
hard
and
“smart”.
 3)
Boston
Consulting
Group:
 Company
Overvie...
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This document was uploaded on 02/17/2014.

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